Item 5.07Item 5.07 - Submission of Matters to Vote
Item 5.07. Submission of Matters to a Vote of Security Holders.
On June 5, 2026, Garmin held its annual general meeting of shareholders. At the annual general meeting, Garmin's shareholders voted on the proposals set forth below, each of which is described in Garmin’s proxy statement for the 2026 annual general meeting.
Under Swiss law and Garmin's Articles of Association, shareholder approval of proposals is generally determined by a simple majority of votes cast, such that abstentions and broker non-votes are disregarded in the calculation of the vote required for approval. At the 2026 annual general meeting, abstentions and broker non-votes were not considered in the tabulation of the vote (and should be disregarded) for each proposal.
1. The shareholders approved Garmin’s 2025 Annual Report, including the consolidated financial statements of Garmin for the fiscal year ended December 27, 2025 and the statutory financial statements of Garmin for the fiscal year ended December 27, 2025. The tabulation of votes on this matter was as follows:
For Against Abstain Non-votes
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166,720,742 54,838 300,694 0
2. The shareholders approved the appropriation of available earnings. The tabulation of votes on this matter was as follows:
For Against Abstain Non-votes
────────────────────────────────────────────────────────
166,642,766 126,248 307,261 0
3. The shareholders approved the payment of a cash dividend in the aggregate amount of U.S. $4.20 per outstanding share out of Garmin’s reserve from capital contribution in four equal installments. The tabulation of votes on this matter was as follows:
For Against Abstain Non-votes
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166,825,423 144,591 106,261 0
4. The shareholders discharged members of the Board of Directors and the Executive Management from liability for the fiscal year ended December 27, 2025. The tabulation of votes on this matter was as follows:
For Against Abstain Non-votes
─────────────────────────────────────────────────────────────
99,005,980 1,081,147 22,377,268 27,279,587
5. The shareholders re-elected six directors, each for a term extending until completion of the 2027 annual general meeting. The tabulation of votes with respect to the re-election of directors was as follows:
For Against Abstain Non-votes
─────────────────────────────────────────────────────────────────────────────────────
Susan M. Ball 137,813,480 1,804,842 178,365 27,279,587
Jonathan C. Burrell 127,104,653 12,592,380 99,654 27,279,587
Joseph J. Hartnett 120,629,595 19,065,430 101,663 27,279,587
Min H. Kao 137,177,400 2,519,279 100,008 27,279,587
Catherine A. Lewis 137,170,914 2,448,340 177,434 27,279,587
Clifton A. Pemble 139,049,728 644,172 102,788 27,279,587
6. The shareholders re-elected Min H. Kao as Executive Chairman of the Board of Directors for a term extending until completion of the 2027 annual general meeting. The tabulation of votes with respect to the re-election of the Executive Chairman was as follows:
For Against Abstain Non-votes
───────────────────────────────────────────────────────────
130,697,013 8,999,309 100,366 27,279,587
7. The shareholders re-elected four members of the Compensation Committee, each for a term extending until completion of the 2027 annual general meeting. The tabulation of votes with respect to the re-election of members of the Compensation Committee was as follows:
For Against Abstain Non-votes
─────────────────────────────────────────────────────────────────────────────────────
Susan M. Ball 138,002,249 1,610,018 184,421 27,279,587
Jonathan C. Burrell 128,457,372 11,228,019 111,296 27,279,587
Joseph J. Hartnett 132,933,019 6,758,071 105,598 27,279,587
Catherine A. Lewis 136,178,818 3,431,055 186,814 27,279,587
8. The shareholders re-elected the law firm of Wuersch & Gering LLP as independent voting rights representative for a term extending until completion of the 2027 annual general meeting. The tabulation of votes with respect to the re-election of the independent voting rights representative was as follows:
For Against Abstain Non-votes
────────────────────────────────────────────────────────
166,836,297 87,192 152,786 0
9. The shareholders ratified the appointment of Ernst & Young LLP as Garmin’s Independent Registered Public Accounting Firm for the fiscal year ending December 26, 2026 and re-election of Ernst & Young Ltd as Garmin’s statutory auditor for another one-year term. The tabulation of votes on this matter was as follows:
For Against Abstain Non-votes
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161,369,360 5,599,802 107,113 0
10. The shareholders passed an advisory resolution approving the compensation of Garmin’s Named Executive Officers. The tabulation of votes on this matter was as follows:
For Against Abstain Non-votes
───────────────────────────────────────────────────────────
133,143,435 6,492,185 161,068 27,279,587
11. The shareholders passed an advisory resolution approving Garmin’s Swiss Statutory Compensation Report for the fiscal year ended December 27, 2025. The tabulation of votes on this matter was as follows:
For Against Abstain Non-votes
───────────────────────────────────────────────────────────
133,864,405 5,817,625 114,658 27,279,587
12. The shareholders passed a resolution approving Garmin’s Swiss Non-Financial Matters Report for the fiscal year ended December 27, 2025. The tabulation of votes on this matter was as follows:
For Against Abstain Non-votes
────────────────────────────────────────────────────────
166,195,499 556,630 324,146 0
13. The shareholders approved a binding vote to approve the Fiscal Year 2027 maximum aggregate compensation for Garmin’s Executive Management. The tabulation of votes on this matter was as follows:
For Against Abstain Non-votes
───────────────────────────────────────────────────────────
136,775,093 2,650,876 370,719 27,279,587
14. The shareholders approved a binding vote to approve the maximum aggregate compensation for Garmin’s Board of Directors for the period between the 2026 annual general meeting and the 2027 annual general meeting. The tabulation of votes on this matter was as follows:
For Against Abstain Non-votes
─────────────────────────────────────────────────────────
139,298,872 158,877 338,939 27,279,587